Coimbatore:
A woman has been arrested for allegedly cheating over 300 women of Rs 40 lakh with the promise of arranging loans for them to start Self Help Groups (SHG), with Government subsidy.
Police said the woman had promised them Rs one lakh each and collected Rs 7,500 per head as service charges. She told them they would have to pay only Rs 1,020 to the bank in 84 monthly instalments.
She was arrested last night, produced before a court and is now lodged in the central jail, they said.